Blockchain Project

Since China banned ICOs, illegal crypto fundraising and exchanges have been discovered. Yet, despite the move away from crypto, China filed a blockchain patent.

The People’s Bank of China has officially launched testing of a finance blockchain project for three currency areas.

While the US currently stands as the world leader in blockchain technology, China could very soon overshadow America in terms of blockchain development, according to PricewaterhouseCoopers (PwC).

A public blockchain project founded by the former head of Alibaba’s blockchain team has raised over $20 million from institutional investors in a combined token and equity sale. Called Ultrain, the startup recently announced that important investors in the round included token funds, such as Draper Dragon, FBG Capital, DanHua VC, etc.

Blockchain is currently a relatively popular new concept, containing two concepts of technology and finance. From a technical point of view, this is a distributed database that sacrifices consistency efficiency and guarantees eventual consistency. Of course, this is one-sided. From an economic point of view, this kind of fault-tolerant peer-to-peer network just meets a necessary requirement of the sharing economy - a low-cost trusted environment.

Five years after the birth of Bitcoin, its underlying blockchain technology began to become a new hot spot for investment in high-tech companies, multinational financial institutions and venture capital funds, from the experiments of niche liberal cryptographers and computer hackers.

At present, many financial institutions have adopted the Onchain DNA architecture to develop blockchain proof-of-concept products, such as banks, brokerages, payment, and registration and settlement institutions.

The blockchain technology allows a start-up to issue an eco-token (Token) at a very low cost. I have repeatedly stressed that this is a product-level application token, not an equity image of the equity token.

Blockchain is a parallel world different from physics and internet. It needs to span 5 bridges from the Internet to the blockchain.

Blockchain technology requires the support and participation of traditional technology companies, both in terms of capital and final technology promotion and implementation, due to the deep-rooted thinking and business model of traditional technology enterprises.

Blockchains have recently become more and more popular, with companies, stocks and products related to the concept of countless blockchains. There is even a blockchain phone.

With the blockchain, everything is possible. Since there is no need for an intermediary to achieve mutual trust of each node, each individual's information, even subtle, unimportant, limited value information, transactions can be put on the chain to be notarized.

The blockchain originated from Sakamoto's bitcoin. As the underlying technology of Bitcoin, it is essentially a decentralized database. Some people think that blockchain is the most disruptive technological innovation since the invention of the Internet.

There is a growing need for faster and better blockchain solutions. As we have seen in the past using the main cryptocurrency, the scalability of the blockchain has proven to be very problematic.